In an announcement issued after the market's close CVN has confirmed an oil discovery in it WBN 6 well. It also reported finding a separate and deeper 6 metre reservoir running north south into new leases recently acquired by the joint venture. The WBN 6 well was a "step out " well and confirms the extension of the oil bearing WB reservoir to the north suggesting current estimates on likely reserves may have to be adjusted upwards. Altogether an excellent result. JBC
Confirms oil discovery
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